Companies Battalion OIL Corp
Battalion OIL (BATL): executive pay, fiscal 2025
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CEO pay, last three years
- $313,183FY2023
- $662,670FY2024
- $873,607FY2025
CEO total pay was $873,607 in fiscal 2025, up from $662,670 in fiscal 2024.
FY2025: salary $367,500 · bonus $505,000 · stock awards $0 · option awards $0
Frequently asked questions
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Daniel Rohling | $367,500 | $512,500 | $0 | $0 | $0 | $0 | $53,201 | $933,201 |
| Executive Vice President and Chief Operating Officer | ||||||||
| Matthew Steele | 367,500 | 505,000 | 0 | 0 | 0 | 0 | 1,107 | 873,607 |
| Chief Executive Officer | ||||||||
| Walter Mayer | 284,350 | 288,263 | 0 | 0 | 0 | 0 | 34,013 | 606,626 |
| Senior Vice President, General Counsel & Corporate Secretary | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Daniel Rohling | $933,201 | $787,152 | $722,982 | ↑ +146,049 |
| Matthew Steele | 873,607 | 662,670 | 313,183 | ↑ +210,937 |
| Walter Mayer | 606,626 | 534,716 | 478,295 | ↑ +71,910 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
Our compensation philosophies and programs are designed, structured and administered under the oversight of the Compensation Committee to evaluate the performance of, and make recommendations on the compensation of, the senior management of the Company. The program aims to align executives with peers to allow the Company to retain executive talent in a competitive environment, utilizing a mix of base salary, annual cash incentives, long-term equity incentives, and other benefits.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Equity grants and outstanding awards
No plan-based awards are on file for this fiscal year.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Walter Mayer | RSU | 8,855 | — | $10,006 |
| Daniel Rohling | RSU | 26,564 | — | 30,017 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Jonathan D. BarrettIndependent · Board Chair · Nominating & Corporate Governance · Reserves | $225,000 | $0 | $0 | — | $0 | $225,000 |
| William D. RogersIndependent · Audit (Chair) · Nominating & Corporate Governance (Chair) · Compensation | 200,000 | 0 | 0 | — | 0 | 200,000 |
| Gregory S. HindsIndependent · Audit · Compensation (Interim Chair) · Reserves (Chair) | 175,000 | 0 | 0 | — | 0 | 175,000 |
| David ChangIndependent | 175,000 | 0 | 0 | — | 0 | 175,000 |
| Ajay JegadeesanIndependent | 150,000 | 0 | 0 | — | 0 | 150,000 |
Board fee structure and ownership guideline
| Annual cash retainer | $150,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 25,000 / 25,000 / 25,000 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $925,000 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $925,000 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Battalion OIL as a peer
Companies that benchmark against BATL
2 companies name BATL as a compensation peer
- Designer Brands Inc.DBIFY2026
- Intrepid Potash, Inc.IPIFY2025
Each company listed discloses BATL in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named BATL in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
Disclosed peer group — fiscal year 2025
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Battalion OIL Corp | 2025 | Matthew Steele | $367,500 | $0 | $0 | $0 | $873,607 |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-11 | — | — | — | — | — |
| 2025 | 2025-06-12 | 13,400,011 | 163,941 | 342,731 | 98.79% | Passed |
| 2024 | 2024-11-21 | 13,916,239 | 312,832 | 190,356 | 97.8% | Passed |
| 2021 | 2021-06-08 | 14,698,068 | 120,874 | 208,435 | 99.18% | Passed |
| 2020 | 2020-05-18 | 14,460,336 | 11,119 | 104,515 | 99.21% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.
Say-on-pay — history, company’s computation
| Meeting year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2026 | 2026-06-11 | —a |
| 2025 | 2025-06-12 | 98.79%b |
| 2024 | 2024-11-21 | 97.8%c |
a. Voting standard not stated in the filing.
b. Approved under the standard stated in the filing — “In addition, with respect to the Corporate Opportunity Amendment and the Preferred Stock Voting Amendment (each as defined below), the affirmative vote of a majority of the votes cast by our disinterested stockholders (within the meaning of Section 144 of the DGCL (as defined below)) with respect to each such proposal is required to adopt the amendments contemplated by such proposal (the " Disinterested Majority Standard "). || Abstentions: Abstentions and broker non-votes will have no effect on such proposals with respect to such votes.”.
c. Approved under the standard stated in the filing — “Shares represented by proxies that are marked to indicate abstentions from this proposal and broker non votes with respect to this proposal will not affect its outcome.”.
Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
CEO pay ratio
| Ratio (CEO : median employee) | 15 : 1 |
|---|---|
| CEO total compensation | $2,946,816 |
| Median employee compensation | $190,387 |
Insider trades since the proxy
Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| LUMINUS MANAGEMENT LLC | Greater-than-10% holder | 2026-05-21 | D | 384,282 | $0 | $0 | Common, indirect | Form 4 ↗ |
| Walter Mayer | SVP, General Counsel | 2026-06-18 | D | 8,855 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Walter Mayer | SVP, General Counsel | 2026-06-18 | A | 8,855 | 0 | 0 | Common | Form 4 ↗ |
| Daniel Rohling | Chief Operating Officer | 2026-06-18 | D | 26,564 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Daniel Rohling | Chief Operating Officer | 2026-06-18 | A | 26,564 | 0 | 0 | Common | Form 4 ↗ |
| Charles E. Martin | VP, Controller | 2026-07-15 | A | 68,154 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Walter Mayer | SVP, General Counsel | 2026-07-15 | A | 83,880 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Matthew Steele | Chief Executive Officer | 2026-07-15 | A | 283,100 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Daniel Rohling | Chief Operating Officer | 2026-07-15 | A | 256,887 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Walter Mayer | SVP, General Counsel | 2026-07-16 | D | 2,376 | 1 | 2,851 | Common | Form 4 ↗ |
| Daniel Rohling | Chief Operating Officer | 2026-07-16 | D | 6,468 | 1 | 7,762 | Common | Form 4 ↗ |
| Gen IV Investment Opportunities, LLC | Greater-than-10% holder | 2026-08-07 | D | 3,789 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Gen IV Investment Opportunities, LLC | Greater-than-10% holder | 2026-08-07 | D | 3,789 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Gen IV Investment Opportunities, LLC | Greater-than-10% holder | 2026-08-07 | D | 6,630 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Dividend-equivalent accruals | 2026-08-07 | — | 1,232 | — | — | 1 insider, 1 accrual row | ||
| Gen IV Investment Opportunities, LLC | Greater-than-10% holder | 2026-08-07 | D | 6,578.11 | — | — | Derivative, Class A Common | Form 4 ↗ |
| Gen IV Investment Opportunities, LLC | Greater-than-10% holder | 2026-08-07 | D | 5,138 | — | — | Derivative, Class A Common | Form 4 ↗ |
| Gen IV Investment Opportunities, LLC | Greater-than-10% holder | 2026-08-07 | A | 833,383 | 0 | 0 | Common | Form 4 ↗ |
| Gen IV Investment Opportunities, LLC | Greater-than-10% holder | 2026-08-07 | A | 799,216 | 0 | 0 | Common | Form 4 ↗ |
| Gen IV Investment Opportunities, LLC | Greater-than-10% holder | 2026-08-07 | A | 1,607,845 | 0 | 0 | Common | Form 4 ↗ |
| Gen IV Investment Opportunities, LLC | Greater-than-10% holder | 2026-08-07 | A | 253,815 | 0 | 0 | Common | Form 4 ↗ |
| Walter Mayer | SVP, General Counsel | 2026-08-26 | D | 6,479 | 1 | 8,436 | Common, open-market sale | Form 4 ↗ |
| William D. Rogers | Director | 2026-08-26 | A | 70,000 | 1 | 91,168 | Common | Form 4 ↗ |
| Gregory S. Hinds | Director | 2026-08-27 | A | 14,400 | 1 | 18,864 | Common | Form 4 ↗ |
| LUMINUS MANAGEMENT LLC | Greater-than-10% holder | 2026-09-21 | D | 187,523 | 0 | 0 | Common, indirect | Form 4 ↗ |
Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.
View all 25 transactions
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| LUMINUS MANAGEMENT LLC | Greater-than-10% holder | 2026-05-21 | D | 384,282 | $0 | $0 | Common, indirect | Form 4 ↗ |
| Walter Mayer | SVP, General Counsel | 2026-06-18 | D | 8,855 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Walter Mayer | SVP, General Counsel | 2026-06-18 | A | 8,855 | 0 | 0 | Common | Form 4 ↗ |
| Daniel Rohling | Chief Operating Officer | 2026-06-18 | D | 26,564 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Daniel Rohling | Chief Operating Officer | 2026-06-18 | A | 26,564 | 0 | 0 | Common | Form 4 ↗ |
| Charles E. Martin | VP, Controller | 2026-07-15 | A | 68,154 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Walter Mayer | SVP, General Counsel | 2026-07-15 | A | 83,880 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Matthew Steele | Chief Executive Officer | 2026-07-15 | A | 283,100 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Daniel Rohling | Chief Operating Officer | 2026-07-15 | A | 256,887 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Walter Mayer | SVP, General Counsel | 2026-07-16 | D | 2,376 | 1 | 2,851 | Common | Form 4 ↗ |
| Daniel Rohling | Chief Operating Officer | 2026-07-16 | D | 6,468 | 1 | 7,762 | Common | Form 4 ↗ |
| Gen IV Investment Opportunities, LLC | Greater-than-10% holder | 2026-08-07 | D | 3,789 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Gen IV Investment Opportunities, LLC | Greater-than-10% holder | 2026-08-07 | D | 3,789 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Gen IV Investment Opportunities, LLC | Greater-than-10% holder | 2026-08-07 | D | 6,630 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Gen IV Investment Opportunities, LLC | Greater-than-10% holder | 2026-08-07 | D | 1,231.89 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Gen IV Investment Opportunities, LLC | Greater-than-10% holder | 2026-08-07 | D | 6,578.11 | — | — | Derivative, Class A Common | Form 4 ↗ |
| Gen IV Investment Opportunities, LLC | Greater-than-10% holder | 2026-08-07 | D | 5,138 | — | — | Derivative, Class A Common | Form 4 ↗ |
| Gen IV Investment Opportunities, LLC | Greater-than-10% holder | 2026-08-07 | A | 833,383 | 0 | 0 | Common | Form 4 ↗ |
| Gen IV Investment Opportunities, LLC | Greater-than-10% holder | 2026-08-07 | A | 799,216 | 0 | 0 | Common | Form 4 ↗ |
| Gen IV Investment Opportunities, LLC | Greater-than-10% holder | 2026-08-07 | A | 1,607,845 | 0 | 0 | Common | Form 4 ↗ |
| Gen IV Investment Opportunities, LLC | Greater-than-10% holder | 2026-08-07 | A | 253,815 | 0 | 0 | Common | Form 4 ↗ |
| Walter Mayer | SVP, General Counsel | 2026-08-26 | D | 6,479 | 1 | 8,436 | Common, open-market sale | Form 4 ↗ |
| William D. Rogers | Director | 2026-08-26 | A | 70,000 | 1 | 91,168 | Common | Form 4 ↗ |
| Gregory S. Hinds | Director | 2026-08-27 | A | 14,400 | 1 | 18,864 | Common | Form 4 ↗ |
| LUMINUS MANAGEMENT LLC | Greater-than-10% holder | 2026-09-21 | D | 187,523 | 0 | 0 | Common, indirect | Form 4 ↗ |
Sources (40 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Daniel Rohling. DEF 14A, filed 2026-04-30. Section “Summary Compensation Table” · page 18. As printed: 933,201. View filing ↗
- Section 01, Matthew Steele. DEF 14A, filed 2026-04-30. Section “Summary Compensation Table” · page 18. As printed: 873,607. View filing ↗
- Section 01, Walter Mayer. DEF 14A, filed 2026-04-30. Section “Summary Compensation Table” · page 18. As printed: 606,626. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2019-04-12. Section “CEO Pay Ratio”. As printed: 15 : 1. View filing ↗
- Section 08, Jonathan D. Barrett. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 225,000. View filing ↗
- Section 08, William D. Rogers. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 200,000. View filing ↗
- Section 08, Gregory S. Hinds. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 175,000. View filing ↗
- Section 08, David Chang. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 175,000. View filing ↗
- Section 08, Ajay Jegadeesan. DEF 14A, filed 2026-04-30. Section “Director Compensation”. As printed: 150,000. View filing ↗
- Section 02, LUMINUS MANAGEMENT LLC 2026-05-21. Form 4, filed 2026-05-26. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Walter Mayer 2026-06-18. Form 4, filed 2026-06-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Walter Mayer 2026-06-18. Form 4, filed 2026-06-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Daniel Rohling 2026-06-18. Form 4, filed 2026-06-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Daniel Rohling 2026-06-18. Form 4, filed 2026-06-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Charles E. Martin 2026-07-15. Form 4, filed 2026-07-17. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Walter Mayer 2026-07-15. Form 4, filed 2026-07-17. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Matthew Steele 2026-07-15. Form 4, filed 2026-07-17. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Daniel Rohling 2026-07-15. Form 4, filed 2026-07-17. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Walter Mayer 2026-07-16. Form 4, filed 2026-07-17. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Daniel Rohling 2026-07-16. Form 4, filed 2026-07-17. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Gen IV Investment Opportunities, LLC 2026-08-07. Form 4, filed 2026-08-07. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Gen IV Investment Opportunities, LLC 2026-08-07. Form 4, filed 2026-08-07. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Gen IV Investment Opportunities, LLC 2026-08-07. Form 4, filed 2026-08-07. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Gen IV Investment Opportunities, LLC 2026-08-07. Form 4, filed 2026-08-07. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Gen IV Investment Opportunities, LLC 2026-08-07. Form 4, filed 2026-08-07. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Gen IV Investment Opportunities, LLC 2026-08-07. Form 4, filed 2026-08-07. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Gen IV Investment Opportunities, LLC 2026-08-07. Form 4, filed 2026-08-07. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Gen IV Investment Opportunities, LLC 2026-08-07. Form 4, filed 2026-08-07. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Gen IV Investment Opportunities, LLC 2026-08-07. Form 4, filed 2026-08-07. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Gen IV Investment Opportunities, LLC 2026-08-07. Form 4, filed 2026-08-07. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Walter Mayer 2026-08-26. Form 4, filed 2026-08-28. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, William D. Rogers 2026-08-26. Form 4, filed 2026-08-28. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Gregory S. Hinds 2026-08-27. Form 4, filed 2026-08-28. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, LUMINUS MANAGEMENT LLC 2026-09-21. Form 4, filed 2026-09-23. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-06-16. Item 5.07 · say-on-pay result. As reported: —. View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-06-18. Item 5.07 · say-on-pay result. As reported: 98.79% (votes for as printed: 13,400,011). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-11-21. Item 5.07 · say-on-pay result. As reported: 97.8% (votes for as printed: 13,916,239). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 09b board cost (computed). Computed. Cash 925,000 + equity 0 + all other 0 = 925,000, summed across the director compensation table rows.
- Battalion OIL Corp (subject), Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in Battalion OIL Corp's own proxy. As printed: 873,607. View filing ↗